7 billion by 2027, growing at an annual compound rate of 3.5% during the 2020-2027 analysis period. Metal, one of the segments analyzed in the report, is expected to grow at a compound annual rate of 4% to reach $ 139.9 billion at the end of the year. Analysis period. After an early analysis of the commercial implications of the pandemic and its induced economic crisis, the growth of the Wood segment is readjusted to a revised CAGR of 4% for the next 7-year period. This segment currently represents 37.9% of the world furniture market.
The United States accounts for more than 27% of the size of the world market in 2020, while China is expected to grow at a compound annual rate of 6.5% for the period 2020-2027.
The American furniture market is estimated at $ 137.6 billion in 2020. Currently, the country represents 26.99% of the world market. China, the world’s second largest economy, is expected to reach an estimated market size of $ 136.2 billion in 2027, behind a compound annual rate of 6.4% until 2027. Among other markets Notable geographic locations are Japan and Canada, and each forecast will increase to 1% and 2.7% respectively during the period 2020-2027. In Europe, Germany is expected to grow about 1.8% in CAGR while the rest of the European market (as defined in the study) will reach US $ 136.2 billion by 2027.
The corners of the plastic segments have a share of 15.7% in 2020
In the global plastics segment, the United States, Canada, Japan, China and Europe will generate an estimated 2.8% CAGR for this segment. These regional markets representing a combined market size of US $ 61.2 billion in 2020 will reach an expected size of US $ 74.2 billion by the end of the analysis period. China will remain among the fastest growing countries in this group of regional markets. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach US $ 91.4 billion by 2027, while Latin America will grow annually 3.9% over the analysis period. We bring years of research experience to this 17th edition of our report. The 2,131-page report presents concise information on the impact of the pandemic on production and purchases for 2020 and 2021. It also discusses a short-term phased recovery by key geography.
The competitors identified on this market include, among others
Ashley Furniture Industries, Inc.
Godrej & Boyce Manufacturing Company Limited
Herman Miller, Inc.
Inter IKEA Systems B.V.
Kimball International, Inc.
Kokuyo Co., Ltd.
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